The Observer
Branson predicts an oil crisis by 2015 Virgin boss Sir Richard Branson has warned UK ministers to act now or face a ‘peak oil’ crisis in as little as five years. “Don’t let the oil crunch catch us out in the way that the credit crunch did,” says Branson as he and other business leaders including Scottish and Southern Energy Group’s Ian Marchant call for government to take urgent action to avoid severe oil droughts.
Jobs and courses culled as UK universities face cut-backs More than 15,000 jobs could go across the UK’s universities as institutions look to adapt to “devastating” cuts in funding. Post-grads may step in to teach instead of professors, bursaries and scholarships could be cut, courses or whole campus closed as institutions look for cost savings of around five percent a year.
Tiffany the target of of Bushmen protestors Diamond purveyor Tiffany & Co’s donation of money to the Botswana government to create water boreholes in its national park has raised a stink among protestors. Tiffany’s money is being used to “oppress” local Bushmen whose access to water has been blocked, they say, by the government.
The Sunday Times
Bonus storm as losses hit £7bn at Royal Bank of Scotland
The Treasury is about to approve a bonus pool of £1.3bn at RBS even though the bank is expected to announce huge losses in 2009. RBS leaders claim they have no choice but to follow other banks, such as Goldman Sachs, or risk losing star employees to rivals. The Scottish bank lost 1,000 top performers last year.
Big contractors squeeze out the little man
The National Federation of Builders claimed a quarter of small and medium-sized building companies have been forced to lay off staff after missing out on government contracts. The federation said big property companies are able to offer cheaper rates and mount better bids.
Independent on Sunday
Big oil funds anti-climate change research
Anti-climate change thinktanks including the UK’s International Policy Network have been given grants by oil giant ExxonMobil. Organisations such as the IPN, as well as the US-based Atlas Foundation, have staged global gatherings of climate-change sceptics, while last year’s “Global Warming: Was it Ever Really a Crisis?” meeting in New York was co-sponsored by Atlas and the Heartland Institute, another recipient of ExxonMobil money.
HSBC denies US senate accusations of corruption
HSBC bank has strongly defended itself against criticisms over its anti-money laundering processes. A US senate report slammed the bank’s conduct over dealings with an African woman who it failed to detect was related to a Gabonese public official. The bank insists its processes are within the spirit of US regulation.
The Financial Services Authority has been forced to ditch its private sector auditor, Grant Thornton, for the National Audit Office. The change will save the FSA £100,000 a year. The Public Accounts Committee recommended the change as a result of criticism of the FSA’s performance before and after the credit crunch.
News of the World
Geordies spend more on Yorkshire puddings than families in Yorkshire A survey by mysupermarket.com has found UK consumers are not loyal to their regional foods. More Yorkshire puddings are bought by shoppers in the Tyne and Wear than in Yorkshire, while Welsh consumers are more fond of Cornish pasties than shoppers in the West Country. On average, East Anglians spend nearly £5 more a year on Cheddar cheese than consumers in its region of origin.
